Thursday, February 12, 2009
analysis for 12th february
the head and shoulder target is very much on the cards as inspite of bad overseas markets the neckline support was not breached. Longs are safe so long as the neckline is not breached decisively. however it is to be kept in mind that timewise this rally has already consumed 12 days retracing just 61.8% of the previous rise ,indicating a weak rally. so tighten your stops. a good stop would be yesterday's low of 2877.